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    Rehab Duplex with Income Potential Title is generated by Realmo AI

    35 Main Street, McGraw, NY 13101

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    Claim this Listing
    For Sale
    Under Contract
    $74,900

    MULTI_FAMILY - Other - Mc Graw, NY

    Property size:
    2,208 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $33/SF
    Added:
    Mar 4, 2026
    Days on Market:
    76
    Last Refresh:
    May 19 at 12:06 am

    Property Features for 35 Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 5, Basement, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 1
    Parking features
    Paved or Surfaced
    Appliances
    ElectricWaterHeater
    Standard status
    Active Under Contract
    APN
    112203-088-015-0001-022-000-0000
    Size
    2,208 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2535

    Utilities

    Heating system
    Forced Air, Natural Gas, Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1860
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Hardwood, Laminate, Vinyl, Varies
    Building materials
    AluminumSiding, SprayFoamInsulation
    Architectural style
    Other

    We can help!

    Listing Contact
    Teresa M Howell
    Teresa M Howell

    Listing agent Teresa M Howell License #10301200208

    Listing office Yaman Real Estate 185 Clinton Ave., Cortland, NY

    Listing date Mar 4, 2026

    MLS# S1665031 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex offers income potential, one side rented month‑to‑month.
    • Recent updates: new septic line, spray foam insulation in basement, new breaker boxes, and new hot water heater.
    • One unit features 3 bedrooms and hardwood floors, the other has 2 bedrooms and an eat‑in kitchen.
    • Ample parking available on North St.
    • Low flood insurance cost of $400 per year.
    • Property has not flooded in over 20 years.

    Overview

    This duplex presents an opportunity for investors, though it requires rehabilitation. The owner currently occupies one side, while the other side is occupied by a month-to-month tenant. One side of the duplex features 3 bedrooms with hardwood floors in some rooms. The other side includes 2 bedrooms and an eat-in kitchen. Ample parking is available on the side of the property on North St. The property is located in a flood zone, but the owner reports an annual flood insurance cost of $400 and states that flooding has been minimal, with only a few inches of water in the basement on one occasion in over 20 years. Recent updates within the last 1.5 years include a new septic (sewer) line from the road to the house, Zero Tech sprayed foam insulation in the basement, 2 new breaker boxes, and a new hot water heater. The property is situated on a 0.1423-acre lot and has a total size of 2208 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Hair Salon Big Box & Wholesale Store Food Market Bar & Pub Grocery & Convenience Store Electrical Service Auto Parts Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McGraw
    County
    Cortland
    State
    New York
    Longitude
    -76.093432
    Latitude
    42.596394

    Nearby Similar for Sale

    • $129,000
      3,535 SF

      McGraw Village Triplex Investment Opportunity

      Three-unit property in McGraw, NY, with separate utilities and updates.
      25 North Street, Mc Graw, NY 13101
      View Details
    • $95,999
      1,372 SF

      Fully Rented Two-Family Unit

      Two-unit property in a quiet setting, ideal for owner-occupancy.
      26 1/2 W Center Street, Mc Graw, NY 13101
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in Mc Graw, NY, ideal for investment.
    Where is this duplex located?
    The property is located at 35 Main Street McGraw, NY.
    What is the asking price?
    The asking price for this property is $74,900.
    What are key features of this property?
    This property features: Duplex offers income potential, one side rented month‑to‑month.; Recent updates: new septic line, spray foam insulation in basement, new breaker boxes, and new hot water heater.; One unit features 3 bedrooms and hardwood floors, the other has 2 bedrooms and an eat‑in kitchen.
    (607) 423-2385
    We can help!
    Listing Contact
    Teresa M Howell
    Teresa M Howell
    Real Estate License ID: 10301200208
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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